Though CFOs are usually known for their careful attention to detail, 48 percent of them have not identified a successor, according to a study in The Wall Street Journal.
Robert Half Management Resources surveyed 1,100 CFOs in various industries. Of those respondents who have not created a succession plan, nearly two-thirds said they had no plan because they did not intend to step down soon. They also cited the need to focus on other priorities and the absence of qualified candidates.
Jenna Fisher, head of the global corporate sector at executive search firm Russell Reynolds Associates, said the percentage of CFOs with succession plans represents a dramatic improvement from five years ago, when she estimated less than 10 percent of her clients had CFO succession plans.
“The role of CFO has become more salient,” Ms. Fisher said.